Tesla’s robotaxi service is officially set to launch on June 12 in Austin, Texas, and according to Bloomberg sources, this could position TSLA stock for a potential 25% surge to $300. The autonomous vehicles deployment also marks Tesla’s entry into the rapidly expanding self-driving cars market, which could significantly boost AI stocks across the sector as well.
How Tesla’s Robotaxi Launch Could Drive TSLA and AI Stocks Higher
Tesla Robotaxi Service Details and Market Impact
Tesla robotaxi operations will begin with around 10-20 Model Y vehicles in geofenced Austin areas, and they’ll be using remote supervision instead of in-vehicle operators. The launch also represents Tesla’s bid to capture a share of the autonomous vehicles market, which will reach $13.6 trillion by 2030.
Elon Musk had this to say:
“We are actually going to deploy not to the entire Austin region, but only the parts that are the safest.”
The Tesla robotaxi service will utilize the company’s Full Self-Driving technology, with Musk emphasizing a cautious rollout approach for the self-driving cars platform right now.
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TSLA Stock Price Targets and AI Stocks Performance
Wedbush analyst Dan Ives has raised Tesla’s price target to $300, and this represents significant upside from current levels. The Tesla robotaxi launch is viewed as a key catalyst for both TSLA and also broader AI stocks in the autonomous vehicles sector.
Musk stated:
“The only things that matter in the long term are autonomy and Optimus.”
This focus on Tesla robotaxi development and robotics has attracted investor attention to self-driving cars technology and related AI stocks as well.
Market Opportunities for Tesla Robotaxi and Self-Driving Cars
The global autonomous vehicles market size was valued at $1.5 trillion in 2022, and Tesla robotaxi service is positioning the company to capitalize on this growth. AI stocks focused on self-driving cars technology will benefit from increased adoption right now.
Musk emphasized Tesla’s technology approach:
“What will actually work best for the road system is artificial intelligence, digital neural nets and cameras.”
The Tesla robotaxi platform also represents a significant bet on camera-based autonomous vehicles technology rather than traditional sensor approaches used by competitors.
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Tesla robotaxi launch on June 12 marks a pivotal moment for TSLA stock and the autonomous vehicles industry. With analyst targets suggesting 25% upside potential and the self-driving cars market expanding rapidly, This automaker’s robotaxi service could drive significant gains for both TSLA and AI stocks focused on autonomous technology.
